The leading cryptocurrency is back in the game! According to Bloomberg, Bitcoin is currently trading near its all-time high, buoyed by a positive outlook for the digital asset industry in the United States. Bitcoin and other cryptocurrencies are also receiving strong support from the position of President-elect Donald Trump.
Currently, Trump Media & Technology Group, owned by the newly elected president, is in advanced talks to acquire Bakkt Holdings Inc, a marketplace for digital assets. This development has already led to a rise in the shares of both companies.
Further support for the leading digital asset comes from Nasdaq Inc.'s plan to list options on BlackRock's iShares Bitcoin Trust ETF, a project valued at $43 billion. These factors suggest that Bitcoin and other blockchain-based assets are gradually being integrated into the financial system.
Earlier this week, Bitcoin surged to an impressive $92,533. On Tuesday, November 19th, it was trading at $91,600. Last week, the leading digital asset set a historic record of $93,286.
Notably, BTC has gained 37% since Donald Trump's victory in the US presidential race, in which he announced his intention to make America the "crypto capital of the planet." Analysts believe that Trump Media’s potential acquisition of Bakkt is another positive factor that could boost investor sentiment.
Earlier, the Republican president-elect promised to create a favorable regulatory framework for digital assets in the United States and organize a strategic reserve of Bitcoin. However, the likelihood of this plan coming to fruition remains uncertain.
Against this background, many experts remain skeptical about Bitcoin's continued rally. However, some are optimistic about its future potential. Many market participants are betting that the digital currency will soon reach an astonishing $100,000.
According to Katie Stockton, a technical analyst at Fairlead Strategies LLC, certain chart signals suggest that BTC could rise to $98,100 in the coming weeks. Tony Sycamore, a market analyst at IG Australia Pty, agrees and recommends going long on Bitcoin on corrections near the $80,000 level.
